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THE IMPACT OF BEHAVIORAL PITFALLS ON INVESTORS' DECISIONS: THE DISPOSITION EFFECT IN THE TAIWANESE WARRANT MARKET
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THE IMPACT OF BEHAVIORAL PITFALLS ON INVESTORS' DECISIONS: THE DISPOSITION EFFECT IN THE TAIWANESE WARRANT MARKET (2008)THE IMPACT OF BEHAVIORAL PITFALLS ON INVE…Up Close and Personal: Investor Sophistication and the Disposition Effect (2006)Up Close and Personal: Invest…The Disposition Effect and Underreaction to News (2006)The Disposition Effect and Un…Investor Overconfidence and Trading Volume (2006)Investor Overconfidence and T…Do Investor Sophistication and Trading Experience Eliminate Behavioral Biases in Financial Markets? (2005)Do Investor Sophistication an…What Makes Investors Trade? (2001)What Makes Investors Trade?Patterns of behavior of professionally managed and independent investors (2001)Patterns of behavior of profe…The disposition effect in securities trading: an experimental analysis (1998)The disposition effect in sec…Are Investors Reluctant to Realize Their Losses? (1998)Are Investors Reluctant to Re…Gambling with the House Money and Trying to Break Even: The Effects of Prior Outcomes on Risky Choice (1990)Gambling with the House Money…Prospect theory: An analysis of decision under risk (1988)Prospect theory: An analysis …The Disposition to Sell Winners Too Early and Ride Losers Too Long: Theory and Evidence (1985)The Disposition to Sell Winne…The relationship between return and market value of common stocks (1981)The relationship between retu…A Possible Explanation of the Small Firm Effect (1981)A Possible Explanation of the…Stock returns and the weekend effect (1980)Stock returns and the weekend…Prospect Theory: An Analysis of Decision under Risk (1979)Prospect Theory: An Analysis …Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…Personality traits and motivation of individual investors towards herding behaviour in Indian stock market (2019)Personality traits and motiva…Does Overconfidence Harm Individual Investors? An Empirical Analysis of the Taiwanese Market (2011)Does Overconfidence Harm Indi…Common risk factors in the returns on stocks and bonds (1993)Presidential Address: The Cost of Active Investing (2008)Stock market liquidity and firm value☆ (2009)An empirical analysis of herd behavior in global stock markets (2010)The Behavior of Stock-Market Prices (1965)Efficient Capital Markets: A Review of Theory and Empirical Work (1970)EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)Stock return variances (1986)Correlations in Price Changes and Volatility across International Stock Markets (1990)The Efficient Market Hypothesis and Its Critics (2003)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)The Cross-Section of Expected Stock Returns (1992)On Persistence in Mutual Fund Performance (1997)Capital Market Equilibrium with Restricted Borrowing (1972)A critique of the asset pricing theory's tests Part I: On past and potential testability of the theory (1977)Risk, Ambiguity, and the Savage Axioms (1961)Judgment under Uncertainty: Heuristics and Biases (1975)The Framing of Decisions and the Psychology of Choice (1981)Exploration and Exploitation in Organizational Learning (1991)Explicating dynamic capabilities: the nature and microfoundations of (sustainable) enterprise performance (2007)Theory of games and economic behavior (2019)Toward a positive theory of consumer choice (1980)Trading Is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors (2000)All That Glitters: The Effect of Attention and News on the Buying Behavior of Individual and Institutional Investors (2007)A Simple Model of Capital Market Equilibrium with Incomplete Information (1987)Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency (1993)Prospect theory, mental accounting, and momentum (2005)Do Retail Trades Move Markets? (2008)Individual Investor Trading and Stock Returns (2008)Mental accounting matters (1999)Experimental Tests of the Endowment Effect and the Coase Theorem (2000)Mental Accounting and Consumer Choice (2008)Advances in prospect theory: Cumulative representation of uncertainty (1992)Investor Psychology and Asset Pricing (2001)
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References

  • 1979Prospect Theory: An Analysis of Decision under Risk48,459 cited
  • 1988Prospect theory: An analysis of decision under risk32,475 cited
  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 1981The relationship between return and market value of common stocks5,928 cited
  • 1998Are Investors Reluctant to Realize Their Losses?3,721 cited
  • 1985The Disposition to Sell Winners Too Early and Ride Losers Too Long: Theory and Evidence3,550 cited
  • 1990Gambling with the House Money and Trying to Break Even: The Effects of Prior Outcomes on Risky Choice2,378 cited
  • 1980Stock returns and the weekend effect1,997 cited
  • 2001What Makes Investors Trade?1,296 cited
  • 2006Investor Overconfidence and Trading Volume975 cited
  • 1998The disposition effect in securities trading: an experimental analysis922 cited
  • 2006The Disposition Effect and Underreaction to News880 cited
  • 2006Up Close and Personal: Investor Sophistication and the Disposition Effect841 cited
  • 2005Do Investor Sophistication and Trading Experience Eliminate Behavioral Biases in Financial Markets?791 cited
  • 2001Patterns of behavior of professionally managed and independent investors

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699 cited
  • 1981A Possible Explanation of the Small Firm Effect432 cited
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    • 2019Personality traits and motivation of individual investors towards herding behaviour in Indian stock market30 cited
    • 2011Does Overconfidence Harm Individual Investors? An Empirical Analysis of the Taiwanese Market30 cited